QuantumScape (NYSE:QS) Shares Gap Up – What’s Next?

Shares of QuantumScape Corporation (NYSE:QS) gapped up prior to trading on Thursday . The stock had previously closed at $6.90, but opened at $7.75. QuantumScape shares last traded at $7.4430, with a volume of 23,992,103 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have recently commented on QS shares. Morgan Stanley lowered their price target on QuantumScape from $12.00 to $8.50 and set an “equal weight” rating for the company in a report on Wednesday, February 18th. HSBC upgraded QuantumScape from a “reduce” rating to a “hold” rating and decreased their target price for the company from $10.50 to $8.30 in a research report on Wednesday, February 18th. Finally, TD Cowen reissued a “hold” rating on shares of QuantumScape in a research note on Wednesday, February 18th. Six analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $11.13.

QuantumScape Trading Up 12.3%

The business’s 50 day simple moving average is $7.60 and its two-hundred day simple moving average is $8.59. The stock has a market cap of $4.77 billion, a P/E ratio of -9.58 and a beta of 2.60. The company has a quick ratio of 21.14, a current ratio of 21.14 and a debt-to-equity ratio of 0.02.

QuantumScape (NYSE:QS) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. During the same period in the prior year, the firm earned ($0.21) earnings per share. As a group, analysts expect that QuantumScape Corporation will post -0.82 EPS for the current year.

Insider Transactions at QuantumScape

In other news, insider Mohit Singh sold 50,000 shares of the business’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $7.87, for a total transaction of $393,500.00. Following the sale, the insider directly owned 1,803,035 shares in the company, valued at approximately $14,189,885.45. The trade was a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jeffrey B. Straubel sold 27,106 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $7.85, for a total value of $212,782.10. Following the completion of the transaction, the director directly owned 131,298 shares of the company’s stock, valued at $1,030,689.30. This represents a 17.11% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 778,932 shares of company stock valued at $6,043,845. Company insiders own 3.93% of the company’s stock.

Hedge Funds Weigh In On QuantumScape

Large investors have recently modified their holdings of the business. VSM Wealth Advisory LLC grew its stake in shares of QuantumScape by 46.8% in the third quarter. VSM Wealth Advisory LLC now owns 2,352 shares of the company’s stock worth $29,000 after purchasing an additional 750 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in QuantumScape during the 4th quarter worth about $25,000. Albion Financial Group UT grew its position in shares of QuantumScape by 200.0% in the 4th quarter. Albion Financial Group UT now owns 3,000 shares of the company’s stock valued at $31,000 after buying an additional 2,000 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of QuantumScape by 685.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company’s stock valued at $25,000 after buying an additional 3,311 shares during the last quarter. Finally, CoreCap Advisors LLC increased its stake in shares of QuantumScape by 373.6% in the fourth quarter. CoreCap Advisors LLC now owns 3,893 shares of the company’s stock valued at $41,000 after buying an additional 3,071 shares during the period. Institutional investors own 29.87% of the company’s stock.

QuantumScape Company Profile

QuantumScape Corporation is a development-stage company specializing in the research and commercialization of next-generation solid-state lithium-metal batteries for electric vehicles. The company’s core technology replaces the traditional liquid electrolyte with a solid ceramic separator, aiming to deliver higher energy density, faster charging times and enhanced safety compared to conventional lithium-ion cells. QuantumScape’s product roadmap focuses on enabling electric vehicle manufacturers to extend driving range and reduce charging downtime, addressing key barriers to widespread EV adoption.

Founded in 2010 and headquartered in San Jose, California, QuantumScape has attracted significant strategic investment and formed partnerships with leading automotive OEMs.